Aurora Investment Counsel Takes Position in Primo Brands Corporation $PRMB

Aurora Investment Counsel purchased a new stake in Primo Brands Corporation (NYSE:PRMB) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 115,976 shares of the company’s stock, valued at approximately $2,184,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Caption Management LLC bought a new position in Primo Brands in the third quarter valued at $27,000. LRI Investments LLC raised its stake in Primo Brands by 203.1% in the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares during the period. Picton Mahoney Asset Management raised its stake in Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after acquiring an additional 850 shares during the period. Quarry LP raised its position in shares of Primo Brands by 516.6% in the fourth quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after purchasing an additional 1,994 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Primo Brands by 21,481.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after acquiring an additional 2,363 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of PRMB stock opened at $24.82 on Friday. Primo Brands Corporation has a one year low of $14.36 and a one year high of $29.23. The firm has a 50-day moving average of $24.03 and a 200-day moving average of $21.00. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. The company has a market cap of $9.01 billion, a P/E ratio of 177.31, a P/E/G ratio of 2.19 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. Primo Brands’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, June 4th. Primo Brands’s payout ratio is presently 342.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday, March 30th. JPMorgan Chase & Co. raised their target price on Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada set a $28.00 price target on shares of Primo Brands in a report on Thursday, April 9th. Wall Street Zen upgraded Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, March 27th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.18.

Primo Brands Profile

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.